MacroGenics, Inc. (NASDAQ:MGNX) Forecasted to Post Q3 2017 Earnings of ($1.12) Per Share
MacroGenics, Inc. (NASDAQ:MGNX) – SunTrust Banks lifted their Q3 2017 earnings estimates for MacroGenics in a research report issued on Thursday. SunTrust Banks analyst P. Lawson now anticipates that the biopharmaceutical company will post earnings of ($1.12) per share for the quarter, up from their previous forecast of ($1.13). SunTrust Banks also issued estimates for MacroGenics’ Q4 2017 earnings at ($1.12) EPS, FY2017 earnings at ($4.45) EPS, FY2018 earnings at ($4.16) EPS, FY2019 earnings at ($4.07) EPS and FY2020 earnings at ($2.82) EPS.
MGNX has been the topic of several other research reports. Morgan Stanley lowered their target price on shares of MacroGenics from $24.00 to $22.00 and set an “equal weight” rating on the stock in a report on Monday, May 8th. Zacks Investment Research raised shares of MacroGenics from a “sell” rating to a “hold” rating and set a $19.00 target price on the stock in a report on Tuesday, July 18th. BidaskClub downgraded shares of MacroGenics from a “hold” rating to a “sell” rating in a report on Monday, July 31st. ValuEngine downgraded shares of MacroGenics from a “sell” rating to a “strong sell” rating in a report on Thursday. Finally, Cowen and Company reaffirmed a “buy” rating on shares of MacroGenics in a report on Friday. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. MacroGenics presently has an average rating of “Hold” and an average target price of $32.40.
COPYRIGHT VIOLATION WARNING: This news story was first published by Daily Political and is the property of of Daily Political. If you are viewing this news story on another publication, it was illegally copied and reposted in violation of United States and international copyright and trademark law. The legal version of this news story can be viewed at https://www.dailypolitical.com/2017/08/07/macrogenics-inc-nasdaqmgnx-forecasted-to-post-q3-2017-earnings-of-1-12-per-share.html.
Shares of MacroGenics (NASDAQ:MGNX) opened at 17.28 on Monday. The stock’s 50 day moving average is $17.76 and its 200 day moving average is $18.87. MacroGenics has a 1-year low of $15.70 and a 1-year high of $33.30. The stock’s market capitalization is $635.87 million.
MacroGenics (NASDAQ:MGNX) last posted its earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.05) by $0.09. MacroGenics had a negative return on equity of 56.81% and a negative net margin of 1,216.51%. The firm had revenue of $1.70 million for the quarter, compared to analysts’ expectations of $15.82 million. During the same period in the previous year, the company earned $1.12 earnings per share. The company’s revenue was down 97.9% compared to the same quarter last year.
Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in MacroGenics by 4.3% in the second quarter. Legal & General Group Plc now owns 7,925 shares of the biopharmaceutical company’s stock worth $138,000 after buying an additional 328 shares in the last quarter. Ameriprise Financial Inc. increased its stake in MacroGenics by 1.0% in the first quarter. Ameriprise Financial Inc. now owns 49,059 shares of the biopharmaceutical company’s stock worth $912,000 after buying an additional 485 shares in the last quarter. Jennison Associates LLC increased its stake in MacroGenics by 0.6% in the second quarter. Jennison Associates LLC now owns 189,970 shares of the biopharmaceutical company’s stock worth $3,326,000 after buying an additional 1,062 shares in the last quarter. American International Group Inc. increased its stake in MacroGenics by 7.1% in the first quarter. American International Group Inc. now owns 19,632 shares of the biopharmaceutical company’s stock worth $365,000 after buying an additional 1,300 shares in the last quarter. Finally, Stifel Financial Corp increased its stake in MacroGenics by 7.8% in the first quarter. Stifel Financial Corp now owns 20,155 shares of the biopharmaceutical company’s stock worth $370,000 after buying an additional 1,450 shares in the last quarter. 82.96% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Jon Marc Wigginton sold 5,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. Following the sale, the senior vice president now owns 35,000 shares of the company’s stock, valued at $700,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.30% of the stock is currently owned by insiders.
MacroGenics Company Profile
MacroGenics, Inc is a clinical-stage biopharmaceutical company focused on discovering and developing monoclonal antibody-based therapeutics for the treatment of cancer, as well as various autoimmune disorders and infectious diseases. The Company develops therapeutic product candidates using its antibody-based technology platforms and also in collaboration with other biopharmaceutical companies.
Receive News & Ratings for MacroGenics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MacroGenics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.